Lacy v. Rotating Productions Systems, Inc.

Opinion by

Judge KAPELKE.

Defendants, Rotating Production Systems, Inc., (RPS) and John Larry Land, appeal the judgment entered by the trial court rescinding the patent assignment made by plaintiff, Rodger Lacy, to RPS. Land also appeals the judgment in favor of Lacy on Land’s counterclaim against him for breach of an alleged loan agreement. We reverse the judgment allowing rescission and affirm the judgment on the counterclaim.

In May 1991, RPS was incorporated to exploit the potential of inventions designed to rotate oil well tubing under tension. A reliable system for rotating well tubing…